Bitcoin

Coin

The leading cryptocurrency started the new week with a decline as expected and closed its first red candle after 8 weeks. Institutional investors also completed a week with a slight net outflow for the first time in weeks. This negativity is normal despite the anticipated ETF approval because prices do not go up forever; healthy corrections are customary processes. 
<h2 style="text-align: justify" id="ada-coin-commentary">ADA Coin Commentary</h2> 
Since October, the price of <a href="https://en.coin-turk.com/cardano-ada-shows-strong-signs-of-surge-according-to-analysts/" data-wpel-link="internal">ADA</a> Coin has increased by 184%, albeit slowly compared to other positively diverging altcoins. The breakout above $0.4 particularly accelerated the uptrend. After the much-anticipated breakout, investors targeted $1 while <a href="https://en.coin-turk.com/bitcoin-analyst-predicts-price-could-surpass-42000-in-the-next-12-13-months/" data-wpel-link="internal">Bitcoin</a> decided to form a bearish candle in its ninth week. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-290764 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/ADA-Coin-18-Aralik-Fiyat-Analizi.png" alt="" width="1050" height="803"> 
The timing is unfortunate, but there’s nothing to be done. In the short term, while the MACD gave a positive signal, the RSI was ambiguous. However, if the closures below the resistance of $0.612 continue, optimism could be further undermined. On the other hand, BTC’s firm stance below $42,000 and increasing sales also bring to mind the risk of further losses. 
<h2 style="text-align: justify" id="ada-coin-price-prediction">ADA Coin Price Prediction</h2> 
Closures below $0.612 for ADA Coin could lead to a drop to $0.5. For now, the price was closer to resistance at $0.597. What would closures below the last support lead to? In that case, we could see a drop to $0.39. The potential to return to the resistance at $0.4, which took a long time to overcome, is disheartening. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-290766 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/ADA-Coin-Haftalik-Fiyat-Analiz.png" alt="" width="1050" height="801"> 
Last week, ADA Coin bulls, who failed to surpass the 0.000015 BTC level in the Bitcoin (BTC) pair, are now struggling to protect the support coinciding with the 50-week Exponential Moving Average (EMA) around 0.0000127 BTC. 
Losses were not only in the dollar pair; the negatively diverging altcoin fell victim to profit-taking after reaching its recent peak quickly amidst BTC sales. If this support level does not hold, the next notable support for ADA is at 0.000011 BTC. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-290767 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/ADA-BTC-Grafik-Analiz.png" alt="" width="1055" height="796"> 
For now, BTC faces the risk of a deepening correction unless we see closures above $41,500 and $42,500. On the other hand, the PCE data coming on Friday is the second most important event of December after the Fed meeting and could be the biggest shake-up for BTC prices. If the PCE is announced as expected to be low, it could highlight the success in the fight against inflation while potentially pushing crypto upwards. Continue Reading: <a href="https://en.coin-turk.com/crypto-market-trends-and-ada-coin-analysis/" data-wpel-link="internal">https://en.coin-turk.com/crypto-market-trends-and-ada-coin-analysis/</a>

Crypto Market Trends and ADA Coin Analysis

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